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TASI rises 0.15% at Monday’s close

TASI rises 0.15% at Monday’s close
TASI ended the session at the level of 8,206.13 points

Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) ended Monday’s trading in the green zone, after a mixed performance that was impacted by the rising geopolitical tensions, before closing the session in gains supported by the rise of the banking sector.

The Tadawul All Share Index (TASI) rose by 0.15% or 12.41 points and closed at the level of 8,206.13 points.

Traded volumes decreased to 157.83 million shares, compared with 175.9 million shares, with turnovers reaching SAR 4.072 billion, down from SAR 4.233 billion on Sunday.

Although 120 stocks ended the session in red, led by Saudi Cable that dropped 9.96%, a total of 65 stocks recorded gains today, with Saudi Fisheries topping the gainers with a 9.86% surge, followed by Alhokair with 7.99%.

Saudi Aramco was the most actively traded stock with 19.34 million shares and a turnover of SAR 662.54 million, closing at SAR 34.5, down 0.14%.

The banking sector added 0.58%, supported by gains of 2.84% and 2.65% by SABB and Samba, while Al Rajhi increased by 0.16%.

Materials slipped 0.04%, as SABIC lost 0.11%.

Today, the Saudi market was able to absorb the shocks of geopolitical risks, as the benchmark index closed above the 8,200-point level, which supports further gains, Economic analyst Said Al Thaqfaan tells Mubasher.

The analyst expects Tadawul to maintain gains as a number of companies are expected to announce their financial results for 2019.